Deferred Tax Assets and (Liabilities) |
Deferred Tax Assets and (Liabilities) Deferred taxes arising from temporary differences and unused tax losses are summarised as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Deferred tax 2023 | At 1 July 2022 £’000 | | Exchange Adjustments £’000 | | Credit / (Charge) to Profit and Loss £’000 | | Acquisition £’000 | | Charge to Equity £’000 | | At 30 June 2023 £’000 | Accelerated capital allowances | £ | 434 | | | £ | — | | | £ | (465) | | | £ | — | | | £ | — | | | £ | (31) | | Tax losses | 3,627 | | | (111) | | | 8,995 | | | — | | | — | | | 12,511 | | Share-based compensation | 9,844 | | | (35) | | | (1,927) | | | — | | | (3,919) | | | 3,963 | | Intangible assets | (6,008) | | | 191 | | | 1,901 | | | (6,455) | | | — | | | (10,371) | | Other temporary differences | (1,505) | | | 45 | | | 652 | | | 269 | | | — | | | (539) | | Total | £ | 6,392 | | | £ | 90 | | | £ | 9,156 | | | £ | (6,186) | | | £ | (3,919) | | | £ | 5,533 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Deferred tax 2022 | At 1 July 2021 £’000 | | Exchange Adjustments £’000 | | Credit / (Charge) to Profit and Loss £’000 | | Acquisition £’000 | | Charge to Equity £’000 | | At 30 June 2022 £’000 | Accelerated capital allowances | £ | 595 | | | £ | — | | | £ | (161) | | | £ | — | | | £ | — | | | £ | 434 | | Tax losses | 2,987 | | | 355 | | | 285 | | | — | | | — | | | 3,627 | | Share-based compensation | 13,143 | | | — | | | 1,802 | | | — | | | (5,101) | | | 9,844 | | Intangible assets | (6,824) | | | (30) | | | 1,136 | | | (290) | | | — | | | (6,008) | | Other temporary differences | 55 | | | 208 | | | (1,768) | | | — | | | — | | | (1,505) | | Total | £ | 9,956 | | | £ | 533 | | | £ | 1,294 | | | £ | (290) | | | £ | (5,101) | | | £ | 6,392 | |
Deferred tax assets are recognised to the extent it is probable that taxable profits will be generated against which those assets can be utilised. After offsetting deferred tax assets and liabilities where appropriate within territories, the net deferred tax comprises: | | | | | | | | | | | | | 2023 £’000 | | 2022 £’000 | Deferred tax assets | 20,156 | | | 17,218 | | Deferred tax liabilities | (14,623) | | | (10,826) | | Net deferred tax | 5,533 | | | 6,392 | |
|